Press release
Conveyor System Market by Industry, Type, Belt Type and Region - 2021
The major drivers of this market are rising demand for handling larger volumes of goods, improving process efficiency, increasing FDI investments in the automotive, food and beverage, retail and airport sectors, and material safety concerns, among other factors.
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The retail industry is the largest segment of the conveyor system market, in terms of value. Supermarkets, warehouses, and distribution centers cover a major portion of the retail conveyor system market. Belt, roller, and pallet type conveyors are majorly used in the retail industry and the pallet type segment is estimated to grow at the fastest CAGR, during the forecast period. Europe and the Americas account for the largest share of this market, owing to the presence of major conveyor system manufacturers. SSI Schaefer (Germany), Dematic (Luxembourg), Swisslog Holding AG (Switzerland), Fives Group (France), and Vanderlande Industries (The Netherlands) are some of the major conveyor system manufacturers in Europe, while Intelligrated (U.S.), Witron (U.S.), Wynright (U.S.) are present in the Americas.
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The dairy subsegment of the food and beverage industry conveyor system market is estimated to grow at the fastest CAGR during the forecast period. According to the European Food & Drink industry statistics, the dairy industry accounted for 14% of the total revenue of the food and beverage segment which include meat products, drinks, bakery products, and others. Dairy products include cheese, butter, milk, curd, and others who need conveyor systems to maintain proper hygiene. Currently, the dairy industry prefers steel belts over traditional plastic and PU conveyor systems.
The medium-weight conveyor belt segment is the largest segment of the global conveyor system market, during the forecast period. Medium- weight conveyor belts have a tensile strength ranging from 500 N/mm to 2,500 N/mm and are suitable for handling rough and heavy material such as in the automotive sector. A boost in the manufacturing sector has led to increased demand for medium-weight conveyor belts.
Asia-Oceania is estimated to be the fastest growing region in the global conveyor system market. The growing GDP, changing lifestyle, socio-economic shift, and relaxed government regulations regarding Foreign Direct Investment (FDI), has led to industrial growth. FDI in the automotive, retail, food and beverage, and airport sectors in developing countries has increased, and thus, makes them potential industry hubs in the future. Many conveyor manufacturers such as Daifuku (Japan) and Taikisha (Japan) are based in the Asia-Pacific, whereas, global players such as Vanderlande Industries (The Netherlands), Swisslog Holding AG (Switzerland), and Siemens (Germany) are also present in the Asia-Oceania region.
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The conveyor system ecosystem consists of conveyor system manufacturers such as Siemens AG (Germany), Daifuku Co., Ltd. (Japan), Vanderlande Industries B.V. (The Netherlands) and these conveyor systems are supplied to major OEMs in the automotive industry such as Nissan (Japan), and Tesla Motors (U.S.) among others, retail stores such as Wal-Mart (U.S.), and Costco Wholesale Corporation (U.S.) among others, food and beverage industries such as Mars (U.K.), and Unilever (U.K.) among others, and the airport sector.
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